1:03 AM,
Nov. 17, 2012

Kenwood Towne Place is reflected in one of the office buildings in the West Shell Office Park at Hosbrook and Montgomery roads.

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One of the developers of the long-stalled Kenwood Towne Place retail and office complex is facing federal fraud and money laundering charges related to his oversight of the troubled project.

Matt Daniels, managing director of Bear Creek Capital, was accused in an indictment late Thursday of deceiving lenders and diverting money intended for Kenwood Towne Place to other distressed construction projects.

Federal prosecutors said Daniels also used some of the money for his "personal enrichment," including jewelry and $500,000 for a yacht. ...